CarMax Inc (KMX) Moves Higher on Volume Spike for March 12

Equities Staff  |

CarMax Inc (KMX) traded on unusually high volume on Mar. 12, as the stock gained 2.42% to close at $60.99. On the day, CarMax Inc saw 2.93 million shares trade hands on 25,299 trades. Considering that the stock averages only a daily volume of 1.72 million shares a day over the last month, this represents a pretty significant bump in volume over the norm.

Generally speaking, when a stock experiences a sudden spike in trading volume, it may be seen as a bullish signal for investors. An increase in volume means more market awareness for the company, potentially setting up a more meaningful move in stock price. The added volume also provides a level of support and stability for price advances.

The stock has traded between $81.67 and $55.24 over the last 52-weeks, its 50-day SMA is now $61.56, and its 200-day SMA $69.01. CarMax Inc has a P/B ratio of 3.02. It also has a P/E ratio of 13.8.

CarMax sells, finances, and services used and new cars through a chain of nearly 200 retail stores. It was formed in 1993 as a unit of Circuit City and was spun off into an independent company in late 2002. Used-vehicle sales account for over 84% of revenue, wholesale about 13%, and the remaining portion is composed of extended service plans, and repair. In fiscal 2018, the company retailed and wholesaled 721,512 and 408,509 used vehicles, respectively.

Headquartered in Richmond, VA, CarMax Inc has 25,110 employees and is currently under the leadership of CEO William D. Nash.

For a complete fundamental analysis analysis of CarMax Inc, check out Equities.com’s Stock Valuation Analysis report for KMX.

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To get more information on CarMax Inc and to follow the company’s latest updates, you can visit the company’s profile page here: KMX’s Profile. For more news on the financial markets and emerging growth companies, be sure to visit Equities.com’s Newsdesk. Also, don’t forget to sign-up for our daily email newsletter to ensure you don’t miss out on any of our best stories.

All data provided by QuoteMedia and was accurate as of 4:30PM ET.



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